Managing assets like real estate in an irrevocable trust can sometimes present challenges, but trusts also provide many benefits. Selling a home held in an irrevocable trust is possible, though it requires following specific guidelines to ensure the process is handled correctly. At Casey Lundregan Burns, P. C. , we have spent generations guiding families … Read more
Buying a home is an exciting milestone in life but also requires careful financial planning. A big question for people who want to buy a house is how much cash they should have left over after paying the down payment. Congratulations on your new home purchase! It’s an exciting time, but let’s be real – … Read more
There is a chance that you may have been able to make a contribution to an individual retirement account (IRA) last year. With a carryback contribution, you can still put money into your IRA from the previous year until you file your taxes for that year. You can put money into an IRA even if … Read more
You can live in a house that your trust owns, but the specifics will depend on the type of trust you have, your role as a trustee or beneficiary, and different legal and financial rules. If you’ve already put your home in a trust or are thinking about it, knowing the rules will help you … Read more
Cashing out a 401(k) early can be tempting, but it can come at a cost. If you cash out your 401(k) too soon, you will be charged fees unless you meet one of the early withdrawal exemptions. Find out more about how taking money out of a 401(k) early affects your taxes and decide if … Read more
Are you scratching your head about how much of your pension you can receive without paying the tax man? You’re not alone! As a pensioner in the UK, understanding your tax-free allowance is crucial to maximizing your retirement income I’ve put together this comprehensive guide to help demystify the tax rules for retirees. The Basic … Read more
Follow this path if you’re waiting until you turn 65 or older to collect Social Security benefits. When you’re ready, you’ll have to contact Social Security to sign up for Medicare. You might not want to sign up for Medicare as soon as you become eligible if you have health insurance through your job or … Read more
The Truth About Inherited IRA Distribution Rules in 2025 Inheriting an IRA can feel like finding a treasure chest with a complicated lock. You’ve got the money, but accessing it means navigating a maze of tax rules that could cost you big time if you make a wrong turn. I have seen too many people … Read more
Have you ever wondered how your super compares with people your age? Use this guide from the Association of Superannuation Funds (ASFA) to see if your super is on track with the average account balance across your age group and gender. Ever wondered if your retirement nest egg is on track? You’re not alone As … Read more
The main difference between a traditional and Roth IRA is how and when your money is taxed. The products shown on this page are mostly or entirely from our advertising partners. They pay us when you click on one of their links and then do something on our site. However, this does not influence our … Read more